Bull Harbor Capital LLC Buys Shares of 14,450 Newmont Corporation $NEM

Bull Harbor Capital LLC bought a new position in Newmont Corporation (NYSE:NEM) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,450 shares of the basic materials company’s stock, valued at approximately $1,564,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NEM. Norges Bank acquired a new stake in shares of Newmont during the fourth quarter worth approximately $1,443,128,000. Van ECK Associates Corp boosted its holdings in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after acquiring an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC boosted its position in Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the period. Finally, Assetmark Inc. grew its holdings in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,556 shares of company stock valued at $3,058,146 in the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NEM shares. Argus lifted their price target on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Newmont in a report on Tuesday. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.83.

Newmont Stock Performance

Shares of NYSE NEM opened at $91.34 on Thursday. Newmont Corporation has a 12 month low of $61.76 and a 12 month high of $134.88. The company has a market cap of $96.24 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.02 and a beta of 0.46. The business’s 50 day moving average is $99.02 and its two-hundred day moving average is $109.65. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the business earned $1.43 earnings per share. On average, equities analysts expect that Newmont Corporation will post 8.99 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio is 13.13%.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.